FRANCE: Remy-Cointreau H1 revenues on the rise
Remy Cointreau has posted a rise in revenue for the six months from April to September. In a statement, the French spirits and liquor company said today (21 October) that revenue in the first half rose to €422.1m from €414.3m in the same period last year, a rise of 6.2% on an organic basis. The rise was credited to a recovery in the sales of its top brands in key markets.
The company said that its priorities - to increase prices, refocus the product and country mix, as well as boost marketing - "should enable Remy Cointreau to deliver double-digit organic growth in operating profit for the full year."
Sales growth of the company's flagship Remy Martin Cognac was particularly strong in premium products in Asia and in the US, the company said. Sales rose by 8.6% to €156.1m in the six months to 30 September, from €151.8m a year earlier. "This progress is fully in line with the group's value strategy, based on top-of-the-range positioning, sustained by increased marketing," the statement said.
Remy Cointreau's Piper-Heidsieck champagne and Bols Vodka were two other key sales drivers. Spirits sales rose by 7.5% to €85m from €83m, while champagne sales increased by 2.1% to €54m from €53.6m.
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